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Naysayers often believed affiliate marketing would crash as soon as it expanded on the internet over the years. However, with the industry still going strong, lots of people are quitting their jobs to become affiliate marketers. The affiliate marketers out there who stuck it out, having faith in the industry when so many people said it would fail, are surely laughing now.
With that said, the way people take risks depends from person to person. That’s why as an affiliate marketer it’s important to determine personal boundaries when it comes to how much one is willing to risk or play it safe for the sake of their business. As the saying goes, with no risk, there is no reward.
To keep themselves in check as they take risks, marketers tend to put limits on themselves so they don’t spend too much time on a failed project. This practice actually resembles the Martingale system, an 18th-century concept developed by John Henry Martingale, which was created to help roulette players stay in check as they made bets. Regardless of whether someone plays in-person or through an online platform, this strategy can help them manage their gameplay to get the most out of the experience.
The way it works is that for every loss, the player would then double the bet for the next round. In the event that the player wins that round, then they are back at the beginning, and no loss was made. Conversely, if they continue to lose, then players determine a set limit they will not go over, which tends to be a low number to keep stakes relatively low. The goal is to keep having fun within a set of boundaries to help plan for the long term.
Without knowing it, many marketers give themselves the same limits when it comes to taking risks in their field. The key is to determine limits beforehand so marketers don’t lose track of their goals. It’s this sort of push-pull that drives the risks and rewards of affiliate marketing, and with practice and a cautious hand, the…
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